UK's proposed 20% exit tax could trigger a massive wealth exodus. Rachel Reeves plans to tax unrealized gains when UK-based high-net-worth individuals leave Britain, potentially raising £2B or backfiring spectacularly. Tax lawyer and IMI Pro Marco Messina warns the mere announcement may accelerate relocations as undecided millionaires won't wait for Parliament's verdict.

Learn more about the incoming levy and the industry's reaction here.